Hi Going Loco,
I can't fault your mathematics, but sadly my original posting remains correct. SIA is interested in selling long-haul tickets from Europe to Asia and beyond, and vice-versa. MUC-MAN-MUC is incidental to them. If customers buy tickets on the short-haul sectors that's fine - they will take the money - but there is no way they will invest heavily in promoting those sectors. As I stated, any additional revenue on those sectors is seen as a bonus. They are up against Lufthansa and EasyJet, both of which offer far superior timings. Note how few passengers used the GVA-MAN-GVA sectors on Saudia, and indeed many years ago on AMS and ZRH legs from MAN when SIA's services used to route via those cities. It's great for aircraft enthusiasts when these short sectors are made available for bookings, but the mainstream traveling public rarely show much interest. That's just the economic reality of the situation. Disappointing but true.
Regards, SHED.